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Wednesday, October 14, 2009

Pop(Up) Goes the Neighborhood

Teardown-Lite

What do you get when you combine a high-demand, close-in neighborhood, smallish existing housing stock, and small city lots (typically, 120' x 40')?

Not tear-downs, because of the lot size.

And not bump-outs, for the same reason (there'd be no yard left).

Give up?

Pop-up's.

As in added second stories.

One of the areas where this trend is well under way is in St. Louis Park's Fern Hill neighborhood -- specifically, the west side of it (roughly between Monterey and Highway 100).

This six block stretch is prime territory for pop-up's because these blocks are full of smaller, $250k-$350k homes -- yet homes just to the east go for $400k-$600k (and sometimes much, much more)

The pop-up's are simply closing the gap.

Over time, this trend is driving all of Fern Hill up . . . literally.

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